Friends
The bulls continue to dominate the action on the field, pushing the market averages higher on what seems like a daily and weekly basis. Some of today’s winners are tied to the incredible housing boom we are seeing across the country. The builders, the materials needed to build and the folks selling those materials all are benefiting from the move.
As for the market itself, by the close the Dow Jones Industrial Average was up 164 points to finish the day at 34,200. The S&P 500 was up 15 points to close at 4,185. The Nasdaq Composite Index was up 13 points to close at 14,052. Gold was up $9 to trade at $1,776, while oil was up $.34 to trade at $63.12 per barrel WTI.
As mentioned, the bulls seem to be firmly in control, and have been for quite some time now. I’ve worried that some of the coming good news might be priced into the market at the moment, but early returns with regards to corporate earnings have been better than expected. So, for the moment, economic conditions are getting better and better and market participants continue to add to their holdings.
Have a great weekend everyone.
